Report Description

Asia Pacific Offshore Wind Energy Market: Overview

Wind power generation is the extraction of kinetic energy from the wind and its conversion into any useful type of energy such as thermal, mechanical, or electric energy. This can be achieved through the use of: wind turbines to generate electricity, windmills for mechanical power, wind pumps for water-pumping or drainage, and sails to propel ships. Energy in the wind turns three, propeller-like blades around a rotor. The rotor is connected to the main shaft, which spins the generator to produce electricity. Large number of offshore wind energy projects are under planning and construction phase due to the fact that offshore wind farm installations has high advantages as compared to onshore wind farm installations. High land surface requirement, high noise generation, high cost incurred in project set up and the entire value chain (including turbine and its accessories cost, cabling cost, installation costs and others) of wind energy generation from assets based on land have led to shift of focus from onshore to offshore. Advantages of offshore wind energy installations includes overall reduction in project capital expenditure, unobstructed primary fuel required for energy generation from the offshore wind turbines, which is wind.

Asia Pacific Offshore Wind Energy Market: Drivers and Restraints

Offshore wind energy projects are largely being financed by the government agencies which also includes big EPC players, manufacturers, distributors and service providers. With growing population and economy there is definite need for more electricity. Paucity of land resources have encouraged the local government agencies and global renewable energy control bodies to go for alternate arrangements which is offshore installation of wind turbines. Currently, China has largest number of offshore wind energy projects under planning and construction phase which is followed by Japan and South Korea. India has the maximum potential for installed capacities and the government of India has thus decided to have a Policy that will enable optimum exploitation of Offshore Wind energy in the best interest of the nation and to achieve the its interest to develop Offshore Wind Farms. China has outlined the policies and clear mandate to accelerate and promote the development of offshore wind energy projects. New Zealand, Republic of Korea, Thailand and Japan have respectively formed governing bodies to initiate, finance, execute and maintain the proposed offshore wind farm installations for energy generation.

Asia Pacific Offshore Wind Energy Market: Scope of the Report

Primary research represented the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, internet sources, statistical data from government websites and trade associations/agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.